Mutual funds� assets rise 10.3% in June

The mutual fund industry’s net assets grew by 10.3% in June, up to an all-time high of 1.672 bln lei (400 million euro) as a result of a major increase in reported underwriting in money-market funds, according to statistics provided by the Association of Fund Managers in Romania (AAF).

The five money-market fund pulled in 607 million lei, its net assets under management increasing to 1.005 billion lei. The total assets of money-market fund industry increased by 187.5% year-to-date, the biggest increase among open-ended investment schemes.

Money-market funds account for over 19% of the total number of investors, their number standing close to a quarter million.

The rally that started in March in the Romanian equity market restored investors’ confidence in equity funds, whose assets increased by 4% in June and by 27.3% year-to-date. Some 8.8 million lei were added in stock funds in June.

Bond fund’s total assets climbed 1.3% in June, to 252 million lei, while diversified funds’ assets increased by 1.2% up to 231 million lei.

Assets of close-ended funds dropped 5.3% in June, down to 94 million lei.

Top investment fund by assets

Erste Asset Management keeps leading position, with assets under management of 655.7 million lei and a market share of 37.1%.

Raiffeisen AM ranks second, with assets under management of 338 million lei. BRD took the third spot, with assets of 227.1 million lei, edging out the former No 3, OTP AM that glided into fourth, with total assets of 100.5 million lei and a market share of 5.9%.

BT Asset Management stays on the fifth position, with total assets of 80.4 million lei and a market share of 5.1%.

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